D-Mart owner Avenue Supermarts' Q4 PAT up 47% to Rs 97 Crore

For the Year ended March 31, 2017, profit after tax was up 52% to Rs 483 crore, while total revenues clocked were Rs 11,912 crore, marking an increase of 39%.Namrata Singh | TNN | May 07, 2017, 10:13 IST

For the Year ended March 31, 2017, profit after tax was up 52% to Rs 483 crore, while total revenues clocked were Rs 11,912 crore, marking an increase of 39%. Of this, foods category contributes half (54%) of the total revenues, while non-food (FMCG) constituted about 20% and general merchandise and apparel was about 26%.

Basic EPS (earnings per share) for fiscal year 2017 stood at Rs 8.56, as compared to Rs. 5.66 in the previous fiscal.

Earnings before interest, tax, depreciation and amortization (EBITDA) during the quarter stood at Rs 217 crore, up 41%.

EBITDA margins, however, remained more or less at the same level of about 7%.

Neville Noronha, CEO and Managing Director, Avenue Supermarts, said, “March’17 quarter and financial year 2016-17 annual results have been in line with our expectations. Delivering great value and being consistently relevant to consumers is our most important long term objective.”

The company said in a statement, `like for like' (LFL) growth has been 21% in fiscal 2017 as compared to 22% in the previous fiscal. LFL means the growth in revenue from sale of same stores which have been operational for at least 24 months at the end of fiscal year.

As of March 31, 2017, the company had 131 stores with retail business area of 4.1 million sq. ft. across Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR and Chhattisgarh.

During the year, the company added 21 stores, of which 14 were added in the fourth quarter.

D-Mart, which follows a strategy of selling products at competitive prices to consumers, is emerging as a national supermarket chain offering a range of home and personal products.

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